Prices of Silica, the Raw Material for Silicon Metal, Declined in Some Regions, While Petroleum Coke Remained Stable in the Short Term [SMM Weekly Review of Silicon Metal Raw Materials]

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Silica: This week, silica prices in some regions were adjusted downward, with weak market demand. In terms of prices, the current mine-mouth price for high-grade silica in Hubei is 350-420 yuan/mt, with an average decline of 10 yuan/mt compared to the previous period. The mine-mouth price for high-grade silica in Guangxi is 360-380 yuan/mt. The mine-mouth price for high-grade silica in Inner Mongolia is 320-370 yuan/mt. The mine-mouth price for high-grade silica in Guizhou is 290-330 yuan/mt. On the supply side, the loose trend continues. On the demand side, affected by the downward trend in the silicon metal industry, silicon plants in the southwest have shown weak intentions to resume production recently, with limited stockpiling, and other manufacturers in the north have also maintained just-in-time demand. The core imbalance in the current silica market lies in the game between "loose supply" and "pessimistic demand expectations."

Silicon Coal: This week, silicon coal market prices remained stable. Currently, the price of non-caking silicon coal in Xinjiang is 1,040-1,060 yuan/mt, and the price of silicon coal in Xinjiang is 1,550-1,650 yuan/mt. The price of silicon coal in Ningxia is 1,030-1,050 yuan/mt, and the price of silicon coal (granular) in Ningxia is 1,180-1,380 yuan/mt. The price of silicon coal in Shaanxi is 800-900 yuan/mt. The price of silicon coal (mixed) in Gansu is 1,030-1,050 yuan/mt, and the price of silicon coal (granular) in Gansu is 1,190-1,210 yuan/mt. On the supply side, the operating rate of silicon metal plants has remained low recently, and the demand for silicon coal has also been affected. Therefore, some silicon coal plants in Gansu and other regions have adopted a "produce based on sales" model, producing as needed to maintain low inventory levels and reduce the pressure of inventory buildup. On the demand side, the operating rate of silicon metal continued to decline in April, weakening the demand for silicon coal. In the short term, silicon coal prices are close to the cost edge, and if there is no positive news for silicon metal demand, the prices and transactions of producers will face further pressure.

Petroleum Coke: According to the latest market situation, refinery shipments performed moderately this week, with downstream companies showing cautious buying sentiment. Petroleum coke prices were differentiated, and local refinery petroleum coke shipments were poor, with overall prices stable but weak. According to SMM data, the average price of local refinery petroleum coke was about 2,542 yuan/mt, down 0.77% WoW. During the week, the transaction situation of Formosa Plastics petroleum coke showed no significant fluctuations, and the current market quotation is between 1,200-1,250 yuan/mt. Overall, many petroleum coke refineries are currently undergoing maintenance shutdowns, and although downstream companies' buying sentiment is not high, prices are expected to stabilize in the short term.

Electrodes: This week, electrode prices remained low. Silicon metal companies purchased as needed, and in the short term, electrode prices are expected to remain stable. Currently, the ex-factory price for ordinary power carbon electrodes (diameter 960-1,100mm) is 7,400-7,800 yuan/mt. The ex-factory price for ordinary power graphite electrodes (diameter 960-1,100mm) is 11,000-12,000 yuan/mt. The ex-factory price for ordinary power graphite electrodes (diameter 1,272mm) is 12,000-13,000 yuan/mt. The ex-factory price for ordinary power graphite electrodes (diameter 1,320mm) is 13,000-14,000 yuan/mt.

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